Polycarbonate Films Market to Grow at 6.6 Percent CAGR by 2022
January 8, 2018
The polycarbonate films market is poised to climb at a 6.6 percent compound annual growth rate between 2017 and 2022, according to market research firm Markets and Markets. By 2022, the market is projected to be worth $1.52 billion. In 2017, the market was worth an estimated $1.1 billion.
“The growth of the polycarbonate films market globally is fueled by the high demand from the electrical and electronics industry,” says Markets and Markets. “The growth is further boosted by the growing demand for recyclable plastics. Polycarbonate films that are made of polycarbonate resin is a thermoplastic which makes it a recyclable and eco-friendly material. Therefore, this has significantly contributed to the development and usage of polycarbonate films in different end-use industries during the forecast period.”
Optical polycarbonate films make up the largest type and are expected to witness high growth. The demand is due to their good light transmittance, high impact resistance, and low haze factor. They’re often used in applications that require low distortion and optimal visual quality, including lighting and display and in-mold decoration applications for automotive interiors, appliances, and consumer electronics.
The electrical and electronics industry is the largest end-user of polycarbonate films, and Markets and Markets expects this to remain true throughout the forecast period.
“As polycarbonate films have superior properties, such as good temperature and high impact resistance, these films are widely used for various electrical and electronics applications for LCDs, mobile phones, monitors, and other consumer electronics,” says Markets and Markets. “Additionally, the increasing demand for sophisticated consumer [electronics] is increasing due to the increasing middle-class population. All these factors are expected to drive the polycarbonate films market in the electrical and electronics end-use industry.”